Nebius Group N.V.

Nebius Group N.V. is a technology company whose core business is operating a global full-stack AI cloud platform under the Nebius brand. The platform spans the complete AI lifecycle — from high-performance GPU compute clusters and storage to managed services, software tools, and advanced solutions for AI model training and inference at enterprise scale. Nebius combines AI-optimized hardware designed in-house with proprietary software to deliver multi-tenant cloud services purpose-built for AI workloads, with a significant presence in Europe, the United States, and the Middle East. The company's data center footprint includes an owned facility in Finland, leased data center facilities, and greenfield data centers under development, with additional lease agreements totaling $12.1 billion in estimated future payments for facilities expected to commence between 2026 and 2027. Customers range from enterprises, software vendors, and AI-native technology companies to research organizations and individual developers, with long-term committed capacity contracts from large-scale technology companies representing $37.5 billion in remaining performance obligations. The company has significant customer concentration, with three customers each representing more than 10% of quarterly revenue. In addition to its core AI cloud business, Nebius Group operates Avride, a developer of autonomous driving technology for self-driving vehicles and delivery robots, and TripleTen, an edtech platform focused on reskilling individuals for careers in technology. The Group also holds significant minority equity stakes in ClickHouse (an open-source database company valued at approximately $1.5 billion on its books following a Series D financing) and Toloka, both previously spun out of the Group. In 2026, Nebius acquired Tavily, ClarifAI, and Eigen AI Labs to expand its AI cloud technology capabilities. The company has three classes of ordinary shares (A, B, and C), with Class A shares listed on the Nasdaq Global Select Market. Total convertible debt outstanding as of June 30, 2026 was approximately $10.0 billion in aggregate principal across six series with maturities ranging from 2029 to 2033. In July 2026, the company entered its first senior secured debt facility of approximately $775 million collateralized by GPU infrastructure and contracted cash flows. Updated Aug 12, 2026